Property Market Focus - Autumn 2012

Harrogate Town & Country

View

Tim Waring FRICSPartner and Office HeadT +44 (0)1423 535373tim.waring@knightfrank.com

2 Harrogate Town & Country View

WELCOMEWelcome to the latest edition of our town and countryview which brings you fresh insight to the propertymarket around Harrogate and further afield,showcasing a varied selection of the properties wecurrently have for sale and recently sold.

As we progress through 2012, it isinteresting to see how our regionalmarket place continues to beinfluenced by activity in the south ofEngland and London in particular. Lastyear over a third of the buyers throughKnight Frank Harrogate came from outof the Yorkshire and Humbersideregion. To many this might be asurprise given the current economicclimate but yet on further analysis, it’scontinuing a trend that has beenongoing for the last three to four years.

Notwithstanding the damp summerquality of life through a wonderful mixof excellent schooling, wide rangingshops, high quality restaurants,comprehensive social and sportingfacilities regularly entice buyers to theHarrogate District from around the UKand indeed overseas. When one addsthe town’s locational attributes, 17miles north of Leeds, three hours fromLondon by train, close to the upgradedA1 motorway and with ever increasing

flight options from Leeds BradfordAirport, it is understandable why theHarrogate area is increasingly popularto home buyers across all price rangesand property types.

Town living in Harrogate has onesignificant attribute over many of itsYorkshire rivals, namely the wideexpanse of The Stray, a 200-acreparkland surrounding the town centre,that is protected by an Act ofParliament, dating back to 1778.

Locations that adjoin or even overlookThe Stray command understandablepremiums with areas such as TheDuchy and South Side that are withinwalking distance of central Harrogate,also popular and priced accordingly.

Many of the villages close to Harrogatelie in Nidderdale, often perceived asthe unknown Yorkshire Dale, despitelarge parts being a designated Area ofOutstanding Natural Beauty.

When one also considers thepicturesque nature of THEAREA it’S easy to understandwhy living in or aroundHarrogate is so popular.

* Figures reflect activity up to and including Q2 2012.

Where do our buyers come from? Sales by price brand

under £750k 39%

£750k to £1.5m 39%

£1.5m to £2.5m 14%

over £2.5m 8%

Yorkshire and the Humber 64%

Rest of the UK 28%

London and International 8%

Harrogate Town & Country View 3

KNIGHT FRANK IN YORKSHIRE

With 75 years of combined residential propertyexperience, the Harrogate office of Knight Frankoffers a unique mix of market intelligence,property knowledge and professionalism.

In any competitive market place, thereare many accepted industry norms withestate agency being no exception. Atits simplest, all agents produce salebrochures with photos and floor plans,albeit these can be of vastly differingstandards. Website listing is mandatoryon the likes of Rightmove andPrimelocation in an electronic world,with advertising in local newspapersthe traditional alternative usuallysupported by a high street shopwindow and colourful displays.

So how do potential sellersdifferentiate when deciding whichagent to entrust with the disposal ofpossibly their most valuable asset?

In an ever more sophisticatedelectronic world, would you not expect

your agent to have an app for bothiPhone and iPad? With manyhomebuyers, wherever they may be inthe world, starting their search online,perhaps a website that is multi lingualwould help. If nothing else, many arecurious to see what a Harrogate townhouse looks like presented in Russianand then spend longer browsingaround our site.

At the more traditional level, manybuyers still love to receive highspecification sale brochures that areaccurate and informative,complemented by exceptionalprofessional photography. And, if youlike browsing newspapers andperiodicals, rather than online, theadverts that stand out in the likes ofThe Yorkshire Post and Country Life do

generate specific enquiries andviewings. Talking of which, dedicatedand knowledgeable viewing staffshould be readily available seven daysa week, not just during accepted officehours.

And when it comes to the all importantnegotiation, does your agent have theexperience and ability to secure a goodprice, balanced by the requisiteknowledge of the market place tocorrectly advise you in an uncertainworld?

These are just a few of the manyattributes that contribute to KnightFrank’s success in Yorkshire. Do call usto find out how we can assist if you areconsidering selling your home.

Prime Central London

How a £1m investment made £407 a day, every day,for three years.

Prime central London property pricesreached a new high in June, but withvalues almost 50% higher than theywere in March 2009, the rate of pricegrowth is beginning to slow.

Our index confirms that £1m invested incentral London property in March 2009would now be worth approximately£1.48m. This growth equates to anaverage monthly appreciation of£12,400, or £407 daily. Some marketobservers have questioned whetherthis strong price growth will continue.

Over the past few years internationalbuyers have seen London property as asafe-haven investment in anincreasingly volatile global economy.Evidence of this is the fact thatEuropean (non-UK) buyers accounted

for around 10% of the £2m+ centralLondon market between 2005 and 2010and now account for 20% (2011 and2012 to date).

While this safe-haven factor continuesto support the market, we arebeginning to see resistance frombuyers to ongoing price increases andthe difference between asking andachieved prices is beginning to widen,with the percentage of the asking priceachieved having fallen from 96% inMarch to 92% in June.

Lindsey ThomasAssociateT +44 (0)1423 535375lindsey.thomas@knightfrank.com

Location remains key with access to the major conurbations being theprincipal driver for demand around the greater Harrogate district.Quality of life, the availability of local amenities and the wonderfulYorkshire countryside are significant attractions to house buyersacross the county.

country property

4 Harrogate Town & Country View

PROPERTIES FOR SALE

Beckwithshaw

A conveniently situated country housewith substantial outbuildings

Guide Price £875,000

Boltby

A picturesque Grade II Listed propertywith equestrian facilities

Guide Price £1,300,000

South of Harrogate

An exceptional country house in aconvenient location

Guide Price £1,650,000

Birstwith

An idyllic country house withsecondary accommodation

Guide Price £900,000

Kirby Sigston

An elegant country house in wonderfulgrounds

Guide Price £1,800,000

Harewood

A Grade II Listed landmark house insubstantial gardens

Guide Price £925,000

SOLD PROPERTIES

Beckwithshaw An immaculate country house in 8acres

Guide Price £1,650,000

BlubberhousesA Grade II Listed mullioned manorhouse

SOLD

Sawley

A beautifully presented 4 bedroomcountry house

Guide Price £735,000SOLD Guide Price £1,325,000SOLD

Plompton

A Grade II* Listed coach house in asemi-rural setting

Guide Price £645,000

Stainburn

A stunning contemporary house withpanoramic views

Guide Price £1,800,000

Near Ripon

The complete country house withoutbuildings and land

Guide Price £995,000

Green Hammerton

A lovely double-fronted family house

Guide Price £679,000

Near Pateley Bridge

A wonderfully situated fullymodernised farmhouse

Guide Price £695,000

Marton Le Moor

A Grade II Listed Georgian house withsignificant outbuildings

Guide Price £1,100,000

Spofforth

An elegant village house with Georgianorigins

Guide Price £1,425,000

Blubberhouses

A stone-built barn conversion withequestrian facilities

SOLD

Scotton A detached family house on the edgeof the village

Guide Price £595,000SOLD Guide Price £785,000SOLD

“Thank you both for your exemplary job inselling for us.”Mrs Bourne

6 Harrogate Town & Country View

Alex GoldsteinSenior NegotiatorT +44 (0)1423 535372alex.goldstein@knightfrank.com

The demand for homes in Harrogate continues to create high demandwith locations close to the centre particularly popular with thoseseeking all the attractions that town living can offer. Recent marketingcampaigns have seen increased viewers from London and the HomeCounties leading to an encouraging level of sales.

TOWN property

PROPERTIES FOR SALE

ROYAL PARADE

A stylish 2 bedroom second floorapartment in central Harrogate

Guide Price £315,000

Rutland Road

A sizeable detached family home, setwithin extensive gardens

Guide Price £995,000

The Esplanade

An outstanding landmark building incentral Harrogate

Guide Price £2,250,000

Abbey Road

Beautiful detached family home withinestablished gardens with river frontage

Guide Price £845,000

Duchy Road

A substantial detached home setwithin impressive gardens

Guide Price £1,275,000

Duchy Road

A significant family house withsecondary accommodation

Guide Price £1,650,000

SOLD PROPERTIES

Duchy RoadAn elegant Duchy house in sizeablegardens

Guide Price £955,000

Lands LaneAn impressive high specification newbuild house

SOLD

Swan Road

An excellent development opportunityto create 2 town houses

Guide Price £800,000SOLD Guide Price £800,000SOLD

Stone Rings Grange

An impressive detached family homepresented to a superb standard

Guide Price £935,000 Guide Price £1,300,000

Fulwith Mill Lane

An exceptional family home in one ofYorkshire’s premier addresses

Guide Price £1,050,000

Scriven

An idyllic Grade II Listed farmhouse onfringe of Knaresborough

Guide Price £560,000

Beech Grove

A ground floor apartment in thislandmark central Harrogate building

Guide Price £525,000

Lands Lane

A substantial family home withpanoramic views

Guide Price £985,000

St James Drive

Former care home with developmentpotential

Guide Price Excess £1,250,000

Cornwall Road

A 5 bedroom detached family home

SOLD

Rutland RoadA beautiful presented duplexapartment

Guide Price £559,950SOLD Guide Price £785,000SOLD

Park Parade

A magnificent Grade II Listed Georgiantown house

“Thank you for all of your help and advice.You are the best agent by far.”Mrs Cousins

Important Notice This report is published for general information only and not to be relied upon in any way. Although high standards have been used in the preparation of the information, analysis, views and projections presented in this report, no responsibility or liability whatsoever can be accepted by Knight Frank LLP for any loss or damage resultant from any use of, reliance on or reference to the contents of this document. As a general report, this material does not necessarily represent the view of Knight Frank LLP in relation to particular properties or projects. Reproduction of this report in whole or in part is not allowed without prior written approval of Knight Frank to the form and content within which it appears. 1. Particulars: These particulars are not an offer or contract, nor part of one. You should not rely on statements by Knight Frank LLP in the particulars or by word of mouth or in writing (“information”) as being factually accurate about the property, its condition or its value. Neither Knight Frank LLP nor any joint agent has any authority to make any representations about the property, and accordingly any information given is entirely without responsibility on the part of the agents, seller(s) or lessor(s). 2. Photos etc: The photographs show only certain parts of the property as they appeared at the time they were taken. Areas, measurements and distances given are approximate only. Any computer generated images are indicative only. 3. Regulations etc: Any reference to alterations to, or use of, any part of the property does not mean that any necessary planning, building regulations or other consent has been obtained. A buyer or lessee must find out by inspection or in other ways that these matters have been properly dealt with and that all information is correct. 4. VAT : The VAT position relating to the property may change without notice. Knight Frank LLP is a limited liability partnership registered in England with registered number OC 305934. Our registered office is 55 Baker Street, London, W1U 8AN, where you may look at a list of members’ names.

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* Lettings Service † 19 offices across Central London

who will appreciate it as much as you do. This is why, when it was time for Keith and Sally

“Knight Frank understood the property… our home is all about the setting”.

The sale is in the detail.

KnightFrank.co.uk/FranklySpeaking

Knowing the best hiding places

KKnnoowwiinngg tthhee bbeesstt Knowing the sunniest Knowing the new owners have all this to come

To hear more about why the Bowrys chose Knight Frank, visit our website or call 020 3641 9565.

Harrogate24 Albert Street,Harrogate, HG1 1JT+44 (0)1423 530088KnightFrank.co.uk